Wellington Management Group LLP Has $66.87 Million Stock Position in TriMas Co. (NASDAQ:TRS)

Wellington Management Group LLP increased its stake in shares of TriMas Co. (NASDAQ:TRS) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,619,359 shares of the industrial products company’s stock after purchasing an additional 252,537 shares during the period. Wellington Management Group LLP owned approximately 0.06% of TriMas worth $66,872,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TRS. Allspring Global Investments Holdings LLC raised its holdings in TriMas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company’s stock worth $80,298,000 after purchasing an additional 51,701 shares during the period. Dimensional Fund Advisors LP lifted its holdings in TriMas by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,530,874 shares of the industrial products company’s stock worth $64,689,000 after acquiring an additional 19,436 shares in the last quarter. State Street Corp grew its stake in TriMas by 4.1% in the third quarter. State Street Corp now owns 994,114 shares of the industrial products company’s stock valued at $25,380,000 after acquiring an additional 39,497 shares during the period. Barington Capital Group L.P. increased its holdings in shares of TriMas by 4.3% in the third quarter. Barington Capital Group L.P. now owns 608,000 shares of the industrial products company’s stock worth $15,522,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of TriMas by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 582,846 shares of the industrial products company’s stock worth $14,880,000 after acquiring an additional 4,977 shares in the last quarter. 99.42% of the stock is owned by institutional investors and hedge funds.

TriMas Price Performance

TRS stock opened at $26.15 on Wednesday. The stock has a market cap of $1.06 billion, a PE ratio of 40.86 and a beta of 0.66. The stock has a 50-day moving average price of $26.55 and a two-hundred day moving average price of $25.79. TriMas Co. has a 1 year low of $22.45 and a 1 year high of $28.51. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60.

TriMas (NASDAQ:TRS) last announced its earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). TriMas had a net margin of 2.93% and a return on equity of 9.21%. The firm had revenue of $229.36 million during the quarter, compared to analyst estimates of $239.33 million. During the same period in the prior year, the business posted $0.57 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts forecast that TriMas Co. will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.16 annualized dividend and a yield of 0.61%. TriMas’s payout ratio is currently 25.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TRS. StockNews.com upgraded TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. BWS Financial reiterated a “buy” rating and issued a $40.00 price target on shares of TriMas in a report on Tuesday, November 5th.

TriMas Profile

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.